Investor Presentaiton
INFRASTRUCTURE FOR THE FUTURE
VPN LOOK-THROUGH NOCF (100%)
$m
450
HY 2020
HY 2019
400
(82.4)
350
300
250
436.6
200
150
100
50
50
( 134.9)
(17.5)
201.8
413.7
(31.0 )
170.8
0
EBITDA
less: Net
less: Net
finance
regulatory
charges (cash) depreciation
movements
Non cash/net Operating
working capital c/flow - before
tax
Tax paid
Operating
c/flow - HY
2020
EBITDA
Note re maintenance capex:
Net regulatory depreciation is a proxy for maintenance capex. It is calculated as regulatory depreciation net of actual CPI uplift on RAB
CPI uplift on RAB was estimated by: CPI uplift on RAB for H1 2020 is 1.59%; CPI uplift on RAB for H1 2019 was 2.08%
CPI is based on 'All groups CPI' for weighted average of 8 capital cities, not seasonally adjusted (Source: ABS). June on June (released July)
Spark Infrastructure | Investor Presentation | August 2020
( 84.1)
(133.7)
(14.7)
181.2
less: Net
finance
charges (cash)
less: Net
regulatory
depreciation
Non cash/net
working capital
movements
Operating
c/flow - HY
2019
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